Biden administration’s trade approach may benefit Wisconsin’s economy

The Biden administration will open markets and opt for multilateral trade agreements, benefitting Wisconsin’s trade economy, according to a global affairs expert.

Jeremi Suri, a global affairs professor at the University of Texas at Austin, discussed the controversial trade relationship between the U.S. and the rest of the world during a Madison International Trade Association webinar this week.

Suri, a former UW-Madison prof, said the Biden administration will prefer open markets in place of protected markets, multilateral trade agreements with multiple countries over bilateral relationships and trade relationships before transactions. All of that goes against the Trump administration approach.

This gives ample opportunities for Wisconsin’s manufacturers and agriculture businesses because the Biden administration will likely provide federal support for exports, explained Suri.

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